Moody's Investors Services: Credit Trends Commentary

Moody's Investors Services: Credit Trends Commentaryhttp://webdev.credittrends.moodys.comThe Credit Market Trends Service is a Web-based Economic Service focused on the fixed income market. The service compiles economic data and commentary from Moody's expert economists and is released in a rolling fashion throughout the day, week and month.en-usWed, 16 May 2012 16:37 GMT120Investors Flock to Safe Assets on Greece Fearshttp://credittrends.moodys.com/pro/article.asp?cid=230920http://credittrends.moodys.com/pro/article.asp?cid=2309205/16/2012U.K. 10-year government bond yield hits a record low. High Yield CDX Index Swells Vis-à-vis High Yield Bond Spread…Elevated Risk Aversion Mars Outlookhttp://credittrends.moodys.com/pro/article.asp?cid=230896http://credittrends.moodys.com/pro/article.asp?cid=2308965/15/2012The Baa industrial company bond yield just set a new 46-year low.Fresh Greek General Election Fuels Risk Aversionhttp://credittrends.moodys.com/pro/article.asp?cid=230878http://credittrends.moodys.com/pro/article.asp?cid=2308785/15/2012Major European stock markets closed lower. Base Metals Prices Sag as World Activity Wiltshttp://credittrends.moodys.com/pro/article.asp?cid=230862http://credittrends.moodys.com/pro/article.asp?cid=2308625/14/2012Very wide financial company bond spreads imply less liquidity and wider spreads than otherwise for nonfinancial company credits.Greek Political Uncertainty Pushes Up Bond Yieldshttp://credittrends.moodys.com/pro/article.asp?cid=230849http://credittrends.moodys.com/pro/article.asp?cid=2308495/14/2012The euro and Swiss franc weakened to four-month lows against the dollar. Don't Be Happy, Worry … It's "Risk-Off" Time Againhttp://credittrends.moodys.com/pro/article.asp?cid=230829http://credittrends.moodys.com/pro/article.asp?cid=2308295/11/2012the investment grade CDX index ended at 109 bp for its highest close since the 110 bp of January 18, 2012. Pound Slides Against the Euro and Dollarhttp://credittrends.moodys.com/pro/article.asp?cid=230818http://credittrends.moodys.com/pro/article.asp?cid=2308185/11/2012Poor domestic economic data weaken the currency. US Economic Indicators May 14th - 18thhttp://credittrends.moodys.com/pro/article.asp?cid=230814http://credittrends.moodys.com/pro/article.asp?cid=2308145/11/2012A look at next week's economic indicators which include retail sales and industrial production.More New Signs of a Global Expenditures Slowdownhttp://credittrends.moodys.com/pro/article.asp?cid=230800http://credittrends.moodys.com/pro/article.asp?cid=2308005/10/2012A 1.75% 10-year US Treasury yield is now within view. Italian and Spanish Bond Yields Easehttp://credittrends.moodys.com/pro/article.asp?cid=230790http://credittrends.moodys.com/pro/article.asp?cid=2307905/10/2012Greece receives another aid installment.Share Prices May Sink If the Center Does Not Holdhttp://credittrends.moodys.com/pro/article.asp?cid=230769http://credittrends.moodys.com/pro/article.asp?cid=2307695/9/2012Higher government bond yields threaten to intensify the eurozone's current recession. Spanish Bond Yields Spikehttp://credittrends.moodys.com/pro/article.asp?cid=230761http://credittrends.moodys.com/pro/article.asp?cid=2307615/9/2012Yields on ten year Spanish government bonds are back above 6%.Commodity Price Slump Contradicts Inflation Fears and Stems from Slower World Activityhttp://credittrends.moodys.com/pro/article.asp?cid=230744http://credittrends.moodys.com/pro/article.asp?cid=2307445/8/2012The eurozone's major 10-year sovereign government bond yields have been well behaved since this week-end's elections ..Greek Politics Raise Risk Aversionhttp://credittrends.moodys.com/pro/article.asp?cid=230734http://credittrends.moodys.com/pro/article.asp?cid=2307345/8/2012Greece is struggling to form a government.Sometimes, Fiscal Austerity Can Be Too Much of a Good Thing…Operating Leverage Fades for 2nd Straight Quarterhttp://credittrends.moodys.com/pro/article.asp?cid=230723http://credittrends.moodys.com/pro/article.asp?cid=2307235/7/2012Q1-2012 is likely to reveal the slowest annual increase by nonfinancial company sales since the 3.9% of Q4-2009. After Elections, Euro Falls Early Before Recoveringhttp://credittrends.moodys.com/pro/article.asp?cid=230713http://credittrends.moodys.com/pro/article.asp?cid=2307135/7/2012NALies, Damn Lies, and the US' Unemployment Ratehttp://credittrends.moodys.com/pro/article.asp?cid=230687http://credittrends.moodys.com/pro/article.asp?cid=2306875/4/2012In April, the eurozone's composite PMI index of economic activity sank to its most contractive score since October 2011's 46.5. Equities Hit by Disappointing U.S. Payrollshttp://credittrends.moodys.com/pro/article.asp?cid=230668http://credittrends.moodys.com/pro/article.asp?cid=2306685/4/2012Bund yields fall to new low ahead of the weekend's elections.US Economic Indicators May 7th - 11thhttp://credittrends.moodys.com/pro/article.asp?cid=230664http://credittrends.moodys.com/pro/article.asp?cid=2306645/4/2012A look at next week's economic indicators which include the balance of trade and the Producer Price Index"Risng Star" Upgrades Double "Fallen Angel" Downgrades for the US' Current Upturnhttp://credittrends.moodys.com/pro/article.asp?cid=230639http://credittrends.moodys.com/pro/article.asp?cid=2306395/3/2012April's ISM composite suggests that there is little room for a further narrowing by the recent high yield bond spread of 592 bpAusterity Challenges the US Outlookhttp://credittrends.moodys.com/pro/article.asp?cid=230635http://credittrends.moodys.com/pro/article.asp?cid=2306355/3/2012The US is facing a dose of European-style austerity, with current laws poised to radically slash the budget deficit. Compromises on the federal debt will still hit the economy hard, which will likely keep interest rates at ultra-low levels.France, Spain Find Buyers for Debt http://credittrends.moodys.com/pro/article.asp?cid=230627http://credittrends.moodys.com/pro/article.asp?cid=2306275/3/2012The ECB has adopted a wait-and-see approach.Eurozone's Jobless Rate Sets New Record High and Warns of Wider Corporate Bond Yield Spreadshttp://credittrends.moodys.com/pro/article.asp?cid=230606http://credittrends.moodys.com/pro/article.asp?cid=2306065/2/2012Europe's predicament worsens.As Data Dims, Investors Seek Safety http://credittrends.moodys.com/pro/article.asp?cid=230594http://credittrends.moodys.com/pro/article.asp?cid=2305945/2/2012Manufacturing PMIs sank and euro zone unemployment reached a record high.Spreads Often Reveal Whether or Not Risk Taking Is Excessivehttp://credittrends.moodys.com/pro/article.asp?cid=230578http://credittrends.moodys.com/pro/article.asp?cid=2305785/1/2012 risk taking in the US remains sustainable according to how M&A still figures in more high-yield upgrades than downgrades.